Arkle Res Regulatory News (ARK)

2 Apr 2007 07:00

ARC International (LSE:ARK) today announced that it has acquiredthe key assets of Teja Technologies, Inc., a privately held companybased in San Jose, California and a technology leader that developsheterogeneous multiprocessor software. The acquisition includes Teja'ssoftware products, key customer contracts, its engineering team, andpatents for Teja's award-winning technology. £ Today ARC International also announced a series of organizationalchanges, some of which are associated with this acquisition, includingthe appointment of a Chief Operating Officer (COO) and creation of anOffice of the CTO (Chief Technology Officer). See related news releasedated April 2, 2007 for more details. £ Teja was founded in 1998 with funding from venture firms such asthe Mayfield Fund and Intel Capital. Teja's customer list includes"Tier 1" companies such as Intel, Cisco Systems, Samsung, and SunMicrosystems. The acquisition of Teja provides ARC with an acclaimedsoftware development team that will help improve existing and createnew application analysis, architectural co-design, and multicoreruntime tools for products based upon ARC's VRaptor(TM) MulticoreArchitecture. These will complement ARC's current software andprogramming solutions, such as the MQX(R) operating system andMetaWare Development Toolkit. £ Carl Schlachte, president and CEO of ARC International, said,"Teja is a recognized technology provider of multicore softwareplatforms to semiconductor companies and OEMs globally. Its renownedengineering and R&D staff will extend ARC's technical leadership andhelp advance the development of platforms for ARC's next-generationsolutions. Furthermore, the acquisition brings an immediate benefit toARC's customers targeting the networking segment, as well as astrategic benefit for the evolution of the VRaptor MulticoreArchitecture." £ Akash Deshpande, founder and CTO of Teja Technologies, said, "Thecombination of Teja's multicore software development expertise withARC's next-generation configurable architecture technology will be apowerful combination for the global semiconductor industry. ARC hasclearly achieved industry-wide recognition as a leader and quickly isbecoming the solution-of-choice for multimedia SoC design. We are verypleased to play a role in increasing ARC's momentum and to become anintegral part of ARC's team." £ The consideration will be $5 million (USD) in cash. An initial$3.4 million is payable now with the balance to be paid in stages overtwo years based upon completion of performance targets. Theacquisition may have a cost impact of up to $2 million (USD) on ARC'sfinancial year 2007 operations. For the year ended December 31, 2006Teja reported a loss of $3.3 million. The gross assets of Teja onMarch 30, 2007 were $900,000 (USD). Under the terms of the UKLAlisting rules this acquisition is a Class 2 transaction and does notrequire shareholder approval. £ About the VRaptor(TM) Multicore Architecture £ The VRaptor Architecture is a new configurable heterogeneousmulti-processor solution that scales to meet the demands of advancedaudio, video, and high definition media processing requirements in awide array of consumer devices. It supports multiple configurable ARCCPUs with media extensions, multiple vectorized 128-bit SIMDprocessors, high performance streaming I/O, and domain specificaccelerators. The VRaptor Multicore Architecture implements a newactive communication channels technology that provides point-to-pointlinks in hardware between the VRaptor cores, VRaptor accelerators andVRaptor I/O elements, and carries commands as well as data. The activecommunication channels technology eliminates message interpretationoverhead and provides for a unified programming model that simplifiesthe programming overhead often associated with multi-processorarchitectures. The ARC VRaptor Multicore Architecture will be thefoundation of ARC's next-generation Media Subsystems. £ About ARC International plc £ ARC International is the world leader in configurable subsystemsand CPU/DSP processors that are used by semiconductor companiesworldwide to create system-on-chip (SoC) designs that provide astrategic competitive advantage. ARC's patented configurable productsare smaller, consume less power, are less expensive to manufacture,and provide a higher degree of differentiation over what can becreated using "fixed architecture" core alternatives. £ ARC International maintains a worldwide presence with corporateand research and development offices in California and Elstree, UK.For more information visit www.ARC.com. ARC International is listed onthe London Stock Exchange as ARC International plc (LSE:ARK). £ ARC and the ARC logo are trademarks or registered trademarks ofARC International. All other brands or product names contained hereinare the property of their respective owners. This press release maycontain certain "forward-looking statements" that involve risks anduncertainties, including the development, implementation, and releaseof features described herein. These are at the sole discretion of ARCInternational. Licenses from 3rd parties for certain software andessential patents may be required depending on licensee'suse/implementation. For other factors that could cause actual resultsto differ, visit the company's Website as well as the listingparticulars filed with the United Kingdom Listing Authority and theRegistrar of Companies in England and Wales. Copyright Business Wire 2007